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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
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- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
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- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Indian Energy Exchange, India
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- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
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- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
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